Businessman on 10 fraud counts

An Auckland businessman promising a 50 per cent return on investors' money is facing fraud charges totalling hundreds of thousands of dollars.

John David Cutten has appeared in the North Shore District Court charged with 10 counts of fraud, including using forged documents, used to obtain more than $400,000 of investors' money.

One 86-year-old woman says she invested more than $90,000 with Cutten, who promised to invest the money in a private trust based in London.

According to the Fair Go television programme, Cutten gave the woman documents from the trust that "guaranteed" a minimum annual return of 50 per cent on the investment.